Business Segments (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Statement of Operations and Total Assets by Reportable Segment

The following tables present the statement of operations and total assets for Washington Trust’s reportable business segments.

(Dollars in thousands)
Year ended December 31, 2023	Commercial Banking	Wealth Management Services	Consolidated Total
Net interest income	$137,061	$37	$137,098
Provision for credit losses	3,200	—	3,200
Net interest income after provision for credit losses	133,861	37	133,898
Noninterest income	20,006	36,134	56,140
Noninterest expenses:
Depreciation and amortization expense	3,460	1,388	4,848
Other noninterest expenses	99,506	29,203	128,709
Total noninterest expenses	102,966	30,591	133,557
Income before income taxes	50,901	5,580	56,481
Income tax expense	7,028	1,277	8,305
Net income	$43,873	$4,303	$48,176
Total assets at period end	$7,146,096	$56,751	$7,202,847
Expenditures for long-lived assets	5,013	35	5,048

(Dollars in thousands)
Year ended December 31, 2022	Commercial Banking	Wealth Management Services	Consolidated Total
Net interest income (expense)	$156,040	($50)	$155,990
Provision for credit losses	(1,300)	—	(1,300)
Net interest income (expense) after provision for credit losses	157,340	(50)	157,290
Noninterest income	23,088	39,514	62,602
Noninterest expenses:
Depreciation and amortization expense	2,948	1,377	4,325
Other noninterest expenses	94,025	30,372	124,397
Total noninterest expenses	96,973	31,749	128,722
Income before income taxes	83,455	7,715	91,170
Income tax expense	17,557	1,932	19,489
Net income	$65,898	$5,783	$71,681
Total assets at period end	$6,585,310	$74,741	$6,660,051
Expenditures for long-lived assets	5,475	664	6,139

(Dollars in thousands)
Year ended December 31, 2021	Commercial Banking	Wealth Management Services	Consolidated Total
Net interest income (expense)	$141,493	($58)	$141,435
Provision for credit losses	(4,822)	—	(4,822)
Net interest income (expense) after provision for credit losses	146,315	(58)	146,257
Noninterest income	44,748	42,646	87,394
Noninterest expenses:
Depreciation and amortization expense	2,827	1,474	4,301
Other noninterest expenses	101,029	30,134	131,163
Total noninterest expenses	103,856	31,608	135,464
Income before income taxes	87,207	10,980	98,187
Income tax expense	18,575	2,742	21,317
Net income	$68,632	$8,238	$76,870
Total assets at period end	$5,776,754	$74,373	$5,851,127
Expenditures for long-lived assets	3,246	244	3,490